JCDecaux: Revenue Increases by 5.7% in Q1, Modest Outlook for Q2

Digital Acceleration, Strong Transport, Decline in Billposting

The group's revenue reached €880.6 million in Q1 2026, marking a +2.6% reported growth and +5.7% organic growth. Performance varied by sector: Street Furniture grew by +6.8% organically, Transport by +7.5%, while Billposting saw a decline of −2.9%, mainly due to asset rationalization in certain countries. Digital Out-of-Home remains the main growth driver. Digital revenues increased by +9.1% in reported terms and +13.1% organically, now accounting for 41.7% of the group's total revenue. Programmatic DOOH showed even stronger dynamics, growing by +27.2% — double the growth rate of overall digital — to represent 10.5% of digital revenue.

Middle East Impacts Q2 Outlook

The group noted the impact of the conflict in the Middle East, a region that accounted for about 5% of the revenue in 2025. This geopolitical tension significantly limits expectations for the second quarter. JCDecaux now forecasts an organic growth of around +3% for Q2, a sharp decline from the +5.7% in Q1. Excluding the Middle East, this outlook would rise to about +5%, highlighting the specific weight of this region. The contribution from the 2026 FIFA World Cup provides partial support. The group anticipates that the benefits from this event will be evenly distributed between Q2 and Q3. New contracts are also expected to contribute positively from the second half of the year, although their impact remains limited in the short term.